Investment Strategy
LIV Golf reduces workforce as PIF funding reaches planned endpoint
LIV Golf said it had laid off most of its workforce as its financial backing from Saudi Arabia's Public Investment Fund was set to expire. Reuters reported that PIF had invested more than $5 billion since LIV launched in 2022 and had said it would cut funding at the close of the 2026 season.
LIV Golf said it had laid off the majority of its workforce while it pursued funding for a next iteration. It said many employees working under “LIV 1.0” would leave in the first week of September, following the 2026 season. Reuters reported that PIF has invested more than $5 billion in the circuit since its 2022 launch and said in April that it would cut funding at the close of the 2026 season. LIV said it had signed a non-binding term sheet with a lead investor for 2027 funding, but the agreement was not finalised.